Russia rejects a $60-a-barrel cap on its oil and warns of shutdowns

Russia rejects a -a-barrel cap on its oil and warns of shutdowns

KYIV, Ukraine (AP) — Russian authorities have rejected a price cap on the country’s oil set by Western supporters of Ukraine and on Saturday threatened to cut off supplies to countries that supported it. Australia, Britain, Canada, Japan, the United States and the 27-member European Union agreed on Friday cap what they would pay for … Read more

The G-7 enters the EU with a price ceiling for Russian oil at $60 per barrel

The G-7 enters the EU with a price ceiling for Russian oil at  per barrel

WASHINGTON (AP) — The Group of Seven nations and Australia joined the European Union on Friday in adopting a $60-a-barrel price cap on Russian crude, a key move as Western sanctions aim to reshape the world oil market. prevent price spikes and starve President Vladimir Putin of financing his war in Ukraine. Europe needed to … Read more

The EU has come close to the Russian oil price ceiling of $60 per barrel

The G-7 enters the EU with a price ceiling for Russian oil at  per barrel

BRUSSELS (AP) — The European Union has moved closer to setting a $60-a-barrel price ceiling for Russian oil — a highly anticipated and complex political and economic maneuver aimed at keeping Russia supplied to global markets while curbing President Vladimir Putin’s ability to finance his war in Ukraine. EU countries struggled to push the cap … Read more

Biden administration ‘profits’ from war in Ukraine: EU officials

Biden administration ‘profits’ from war in Ukraine: EU officials

A collection of high-ranking European officials is fed up with the Biden administration over what they see as war profiteering during the conflict in Ukraine. The comments come amid rising gas prices and growing tensions over US legislation offering tax breaks to those who “buy American”. Meanwhile, Putin’s invasion of Ukraine is pushing European economies … Read more

The UK Supreme Court blocked the vote in the Scottish independence referendum

The UK Supreme Court blocked the vote in the Scottish independence referendum

London CNN — Britain’s highest court has ruled that the Scottish government cannot unilaterally hold a second referendum on whether to break away from the UK, a blow to independence campaigners that will be welcomed by Westminster’s pro-union establishment. The court unanimously rejected an attempt by the Scottish National Party (SNP) to force a vote … Read more

COP27: Summit agrees ‘loss and damage’ climate fund in landmark deal

COP27: Summit agrees ‘loss and damage’ climate fund in landmark deal

Sharm el-Sheikh, Egypt CNN — Delegates at the UN’s COP27 climate summit agreed to a provision to establish a loss and damage fund in a landmark deal early Sunday morning in Egypt’s Sharm el-Sheikh. However, the delegation stopped short of approving the entire draft text of the agreement as members from Switzerland requested more time … Read more